10 May A College Senior Decides She Wants To Buy A Condo. She Knows She Wants To Live In A Downtown Neighborhood …
A college senior decides she wants to buy a condo. She knows she wants to live in a downtown neighborhood, but needs to investigate if that is feasible. She does some research and determines the average price per square foot in her preferred neighborhood for condos is $60.20 per square foot. The standard deviation is $10.34. She is assuming the square footage rates follow a normal distribution. The sample size was 54. Alpha is .05. The college senior believes that is she picks any random condo, she’ll probably have to pay at least $65 per square foot or more. Does the statistical evidence support her belief
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